Suez Canal brings in tariff reduction for chemical tankers

Suez Canal Authority has issued a new circular for Chemical and other Liquid Bulk tankers to mutually improve its clients’ benefits and allow smooth transit via the Suez Canal. This new circular has come into effect from July 1, 2023, for vessels sailing from the port of origin.

The tankers with chemical and other liquid bulk operations between American Gulf on one side and India and its eastern ports on the other side are eligible for rebate percentages. The ports to the west of the Indian subcontinent (from Karachi, Pakistan) to Cochin in the West of India are eligible for a rebate of 25% of the Suez Canal normal tolls. On the other hand, ports located at the east of Cochin Port until before Port Klang shall be offered a rebate of 55% of Suez Canal’s normal tolls. The Port Klang and its eastern ports will be eligible for a rebate of 75% of Suez Canal’s normal tolls.

Similarly, the chemical and other liquid tankers operating between ports on the East Coast of North America on one side and India and its eastern ports on the other side will also be eligible for rebate. The ports located east of Cochin Port until before Port Klang shall be offered a rebate of 15% of Suez Canal’s normal tolls and 25% of the rebate for Port Klang and its eastern ports.